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May 18, 2026
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Rupee pressure and forex controls intensify as rising oil prices, dollar strength, and import curbs weigh on currency stability.
The rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign investor outflows. Market participants noted that the exchange rate remained under pressure from global sentiment and elevated oil prices. The commentary also noted that RBI intervention and restrictions on imports of gold and silver could support the rupee at lower levels, while higher import duty and licensing controls on precious metals were intended to curb non-essential imports and reduce forex outflows.
May 18, 2026
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Raw jute shortage and trade restrictions push jute mills toward closure, prompting demands for stock release and import relief.
Raw jute shortages, steep price escalation, and trade restrictions have disrupted jute mill operations in West Bengal, leaving mills without a transparent reference price or workable procurement conditions. Millers seek release of residual stocks, easing or withdrawal of stock and trade restrictions, permission for emergency imports, and restoration of a viable price corridor for raw jute. They also urge abolition of agricultural marketing fees and improved payment discipline to suppliers to stabilise supplies and protect employment across the jute belt.
May 18, 2026
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Tribunal infrastructure and capacity need urgent strengthening to support the NCLT and NCLAT insolvency framework.
Institutional strengthening of the NCLT and NCLAT is urged because of their central role in India's company law and insolvency framework. The concerns include permanent and modern infrastructure, uninterrupted courtroom operations, reliable power backup, additional bench strength, permanent staffing, and better support for judicial and technical members. A review of the compulsory rotation policy is also requested to improve continuity and specialisation within the tribunal system.
May 18, 2026
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Industrial policy incentives drive investment, jobs, exports and sector-specific manufacturing growth across Haryana's new policy framework.
Haryana approved the Make in Haryana Industrial Policy 2026 as the State's principal industrial policy, replacing the 2020 framework and reclassifying industrial areas into core, intermediate, sub-prime and prime/focus categories. The policy is designed to attract large-scale investment, expand employment, increase exports and extend financial incentives across all blocks, including capital subsidy, R&D support, recruitment-linked incentives, export promotion measures and green-industry facilitation. It also provides for net SGST reimbursement, sector-linked assistance for large, mega and ultra mega units, and interest on delayed investor payments after 1 April 2026.
May 18, 2026
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Provisional attachment of properties under fugitive economic offender and money-laundering laws over alleged proceeds of crime linked to Mirchi family assets.
Provisional attachment of assets under the Fugitive Economic Offenders Act and money-laundering framework has been made in connection with the alleged proceeds of crime linked to late gangster Iqbal Mirchi and his family. The attached assets include three Worli properties in Mumbai and overseas properties in Dubai, with the investigation attributing ownership and control to Mirchi and his associates despite the properties standing in the name of a trust or other entities on paper. The enforcement action arises from multiple police FIRs concerning alleged organised criminal activity, including drug trafficking, extortion and illegal arms activity. The investigation states that the properties were allegedly acquired through laundering of proceeds generated from those activities.
May 18, 2026
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Russian crude sourcing remains driven by commercial viability and energy security despite the expiry of a sanctions waiver.
India continues to source Russian crude oil on the basis of commercial viability, adequate supply availability and energy security, and the expiry of a temporary US sanctions waiver does not change that approach. Procurement is described as continuing so long as it remains commercially sensible and supply is available. Russian oil remains a core part of India's import basket, with sourcing structured to avoid sanctioned sellers, intermediaries and vessels and to use compliant financial, insurance and trading channels.
May 18, 2026
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Money laundering investigation leads to judicial custody amid alleged GST fraud, shell companies, and benami property transactions.
Punjab minister Sanjeev Arora was placed in judicial custody in connection with an alleged money laundering investigation arising from claims of GST fraud, suspicious property purchases, shell company routing, and benami holdings. The Enforcement Directorate stated that its questioning had been completed and that it was preparing to file a charge sheet. The investigation also reportedly extended to family members through summons and notices, with some relatives questioned and released.
May 18, 2026
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Intensive audit of power discoms follows court directions on regulatory assets and limited audit scope.
The Delhi Electricity Regulatory Commission has initiated an intensive audit of Delhi distribution companies through a CAG-empanelled chartered accountancy firm after issuing a tender in line with Supreme Court directions. The audit is tied to the liquidation of accumulated regulatory assets and is confined to examining the circumstances in which the distribution companies continued without recovery of those assets, rather than a comprehensive financial audit. The process follows the Appellate Tribunal for Electricity's ruling that the earlier proposal for a CAG-conducted audit was not required by the Supreme Court and was contrary to the governing framework.
May 18, 2026
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Silver import restrictions lift domestic prices as gold stays flat amid rupee weakness and global bullion pressure.
Gold prices remained flat in the domestic bullion market, while silver prices edged higher after fresh restrictions were imposed on imports of silver in nearly all forms. The market reaction reflected expectations that tighter import availability could raise local premiums and support domestic silver prices, even as global bullion markets weakened. Domestic gold prices stayed resilient despite international softness because the rupee weakened to a record low, cushioning the decline in local rates.
May 18, 2026
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Export growth strategy links free trade agreements, import substitution, and Swadeshi to strengthen India's domestic manufacturing base.
India has set an export target of USD 1 trillion for the current year and USD 2 trillion over the next five years, supported by free trade agreements with nearly 38 developed countries, import substitution efforts, and promotion of Swadeshi. The statement also stresses quality, productivity, domestic manufacturing, MSME growth, and wider use of UPI and RuPay to strengthen exports and reduce import dependence.
May 18, 2026
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Bail as the norm in UAPA cases shapes liberty analysis even where drug trafficking and terror financing are alleged.
Bail continues to be treated as the norm and jail as the exception even in UAPA matters, including cases alleging drug trafficking and terror financing. The gravity of the accusation by itself does not displace the governing bail principle, and personal liberty remains a central consideration in criminal procedure despite the special statutory framework involved in such prosecutions.
May 18, 2026
Show AI Summary
Rupee weakness and forex pressure prompt tighter precious metal import controls to curb dollar outflows and support external stability.
The Indian rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign portfolio outflows. The government tightened controls on precious metal imports to reduce forex outflows and restrain non-essential imports by raising import duty on gold and silver and placing silver under a licensed import regime.
May 18, 2026
Show AI Summary
Market resilience and domestic investor confidence help Indian markets absorb global shocks and recover after volatility eases.
Indian markets are described as resilient enough to absorb external shocks arising from global crises, including conflict-driven volatility, supply chain disruption, inflationary pressure, spillover effects and second-order effects. The market impact of international developments is presented as natural in an interconnected global system, while the domestic market is said to regain its normal trajectory after the shock subsides. The statement also notes foreign portfolio investment outflows since September 2024, alongside continued confidence among domestic investors.
May 18, 2026
Show AI Summary
Money laundering summons challenge withdrawn as the petitioner exited the High Court plea, leaving contentions open for trial proceedings.
A petition challenging a trial court summons in a money laundering case arising from a Haryana land deal was unconditionally withdrawn before the Delhi High Court, with all rights and contentions kept open. The underlying dispute involved prosecution under the Prevention of Money Laundering Act, a chargesheet filed by the Enforcement Directorate, and an argument that the alleged predicate offences were not scheduled offences at the relevant time.
May 18, 2026
Show AI Summary
Rupee pressure intensifies as oil prices, dollar strength and import curbs shape forex management measures.
The rupee weakened sharply amid elevated crude oil prices, a stronger US dollar, global uncertainty and geopolitical tensions. Market participants said the government and the RBI had begun proactive measures, while separate import curbs were reported for silver after higher customs duty on precious metals, with the stated aim of controlling forex outflows by curbing non-essential imports.
May 18, 2026
Show AI Summary
Intra-BRICS trade and economic cooperation gain emphasis through calls for stronger value chains, services trade and MSME support.
BRICS trade and economic cooperation was highlighted as a growing platform for emerging markets and developing economies, with intra-BRICS merchandise trade described as having expanded sharply over time and still retaining significant untapped potential. The deliberations focused on strengthening the multilateral trading system, supporting the internationalisation of Micro, Small and Medium Enterprises, improving the resilience and diversification of global value chains, and expanding services trade.
May 18, 2026
Show AI Summary
Digital public procurement platform GeM advances transparency, widens market access, and strengthens domestic enterprise participation.
Government e Marketplace (GeM) continues to function as a digital public procurement platform established through a Section 8 non-profit special purpose vehicle under the Companies Act, 2013 to develop, manage and maintain the procurement system for government buyers and sellers. The platform advances transparency, efficiency and technology-driven governance in public procurement while widening market access for domestic enterprises, including Class-1 local suppliers, Micro and Small Enterprises, women-led enterprises, SC/ST entrepreneurs and startups.
May 18, 2026
Show AI Summary
Material support to Iran became the focus of US-China trade talks alongside broader negotiating terms and sector-specific trade understandings.
United States trade discussions with China centered on a commitment that China would not provide material support to Iran, while the United States did not seek direct Chinese action in relation to the Strait of Hormuz. Trade talks were also described as continuing at the officials' level, with consideration of a "Board of Trade" for negotiating trading terms on specific goods, alongside reported understandings on meat exports, biotechnology trade reviews, and aircraft purchases.
May 18, 2026
Show AI Summary
Aquaculture and tobacco taxation pressures intensify as higher tariffs, GST and excise duties strain farmers and market procurement.
Aquaculture exporters and farmers in Andhra Pradesh are under pressure from the tariff burden on shrimp exports, domestic price weakness, and livelihood stress, prompting requests for higher working capital, interest relief, temporary exemption from interest and GST, export diversification, and transport and credit support. FCV tobacco farmers are also affected by higher GST and excise duty on cigarettes, which is reducing procurement and auction prices, and a review of the enhanced taxation and excise structure is sought to protect farmer interests and stabilise the market.
May 18, 2026
Show AI Summary
Investment and industrial collaboration with Swedish and European companies advances India's reform-led growth, manufacturing and clean energy push.
India encouraged Swedish and European companies to deepen investment and industrial collaboration in manufacturing, clean energy, green hydrogen, telecom, digital infrastructure, electronics, deep tech, AI, mobility, healthcare, life sciences, semiconductors and advanced manufacturing. The engagement was linked to India's reform momentum, infrastructure growth, ease of doing business and young workforce. It also highlighted the India-EU Free Trade Agreement, connectivity initiatives and cooperation in resilient supply chains, skill partnerships, talent mobility, green transition and co-created technology solutions.

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News and Press Release

Flash Report on Central Sector Infrastructure Projects worth ₹150 crore and above

May 25, 2026

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PAIMANA Portal Tracks 1,981 Infrastructure Projects worth ₹42.78 lakh crore as of April 2026

The Ministry of Statistics and Programme Implementation (MoSPI) continues to strengthen monitoring of Central Sector infrastructure projects through its PAIMANA platform, enabling improved tracking, timely reviews, and data-driven decision-making across Ministries. The portal tracks 1,981 Infrastructure Projects worth of ₹42.78 lakh crore as of April 2026.

Key Highlights

  • As of April 2026, 1,981 ongoing infrastructure projects, with a total revised cost of ₹42.78 lakh crore, are being monitored across 17 Central Ministries/Departments. The cumulative expenditure incurred on these projects stands at ₹20.36 lakh crore, accounting for approximately 47.59 per cent of the revised project cost, indicating steady progress in project implementation.
  • A significant proportion of projects are at advanced stages, with 801 projects (~40%) achieving over 80% physical progress, while 277 (~14%) have crossed 80% financial completion. The data also reflects a balanced pipeline, with projects distributed across early and advanced stages of implementation.
  • The Transport & Logistics sector (as per the DEA’s Harmonized Master List) accounts for the highest number of ongoing projects (1459 projects), with revised estimates of ₹23.34 lakh crore underscoring priority to connectivity-driven infrastructure growth.
  • 1,981 ongoing infrastructure projects include 814 Mega projects (project cost of ₹1,000 crore & above) with an original cost of ₹31.63 lakh crore, and 1,167 Major projects (project cost below ₹1,000 crore and up to ₹150 crore) amounting to ₹5.49 lakh crore.
  • Physical and financial progress broadly move in tandem, with a large number of projects clustered at the initial (0–20%) and advanced (81–100%) stages, indicating a pipeline of newly-started projects alongside many nearing completions. While physical progress exceeds financial progress in the 81–100% range, financial progress is relatively higher in the early stages, reflecting upfront expenditure patterns in project implementation.

2.   Ministry/ Departments-wise progress of Infrastructure Projects

  • Ministry of Road Transport & Highways accounts for the highest number of projects, with 1137 projects (57%), and also commands the largest share of total revised project cost of ₹10.81 lakh crore (25%), highlighting its central role in national infrastructure development.
  • Ministry of Railways is implementing 260 projects (13%), and constitutes the second largest share of total revised project cost at ₹8.69 lakh crore (20%).
  • Ministry of Coal accounts for implementing 128 projects (7%), with a total revised project cost of ₹2.49 lakh crore (6%).
  • The Ministry of Petroleum & Natural Gas, Ministry of Power, Ministry of Housing & Urban Affairs, and the Department of Water Resources, River Development & GR are implementing 112, 102, 51, and 48 projects, with associated revised costs of ₹5.19 lakh crore, ₹5.53 lakh crore, ₹3.75 lakh crore, and ₹2.25 lakh crore, respectively.
  • The remaining 143 projects (7%), with a total revised cost of ₹4.08 lakh crore (10%), are distributed across various Ministries/Departments including Higher Education, Civil Aviation, Steel, Telecommunications, Labour & Employment, Ports, Shipping & Waterways, Health & Family Welfare, Mines, DPIIT, and Sports. (Refer Annexure)

3.  Sector-wise (as per DEA’s Harmonized Master List of Infrastructure) Progress of Infrastructure Projects

  • Transport & Logistics remains the dominant sector, accounting for 55% of total revised cost (₹23.34 lakh crore) across 1,459 projects (74 % of the total Projects), underscoring the central role of Roads & Highways, Railways, Aviation, Urban Public Transport, Shipping, and Inland Waterways in economic integration and logistics efficiency.
  • The Energy sector follows with 27% of aggregated revised cost (₹11.30 lakh crore) across 221 projects, reflecting sustained emphasis on Oil & Gas infrastructure, electricity generation, transmission and distribution networks, and energy storage systems.
  • Communication infrastructure, with a revised cost of ₹2.73 lakh crore (6%) across 12 projects, represents targeted interventions aimed at strengthening digital connectivity.
  • Water & Sanitation projects account for ₹2.30 lakh crore (5%) across 67 projects, highlighting continued focus on essential urban services.
  • Social & Commercial infrastructure, comprising 77 projects with a revised cost of ₹0.91 lakh crore (2%), reflects selective investments in education, healthcare, real estate, and tourism, hospitality and wellness.
  • Projects classified under ‘Others’, amounting to ₹2.21 lakh crore (5%) across 145 projects, indicate diversification across sectors such as coal, steel, metals, and mining.

(Refer Annexure II)

4.   Completed Projects and New Additions

  • During April 2026, 9 projects were commissioned, including major assets in Housing & Urban Affairs, Railways, Power, Road Transport & Highways, and Labour & Employment. Notable commissioned projects include the “Flyover at Km.544.650 including ROB, Service Roads, Footpath for RCC drains on urban link to Nagpur-Raipur Road Pardi octroi Naka to Itwari (₹ 758.4 crore)” from Ministry of Road Transport & Highways, “Transmission system for evacuation of power from REZ in Rajasthan 20GW under Phase-III Part E1 (₹ 688.74crore)from Ministry of Power and “Jabalpur Sewerage Management and Treatment Infrastructure Project (₹ 362.31 crore)”  ” from Ministry of Housing & Urban Affairs.
  • During April 2026, 55 additional projects were brought under the monitoring of PAIMANA. The projects are from the Ministry of Road Transport & Highways, Ministry of Railways, Ministry of Power, Department for Promotion of Industry & Internal Trade, Ministry of Petroleum & Natural Gas, Ministry of Coal, Ministry of Housing & Urban Affairs, Department of Higher Education. These include:
    • Project - “Bangalore Metro Rail Project - PHASE-3” (₹ 15,611 crore) of Ministry of Housing & Urban Affairs.
    • “Kalai-II Hydro Electric Project [1200 MW]” (₹ 14,105.83 crore) of Ministry of Power.
    • “Development of Zaheerabad Node under Hyderabad Nagpur Industrial Corridor” (₹ 2,360 crore) of Department for Promotion of Industry & Internal Trade.

5.   Next date of Press Release: Flash Report for the month of May 2026 would be released on 25th June 2026.

Note

  1. The press release summarizes highlights from the MoSPI’s Flash Report (April 2026) on Central Sector Infrastructure Projects (₹150 crore and above), available at,  https://paimana-proj.mospi.gov.in/ or via the QR code.

  1. PAIMANA is a centralized web-based portal for monitoring of Central Sector Infrastructure Projects worth ₹150 crore and above. Operating on the "one data, one entry" principle, it integrates with DPIIT’s IPMP portal via APIs to automatically update more than 70% of project data from various Ministries/Departments. PAIMANA also serves as a national repository designed to standardize infrastructure monitoring and support informed decision-making for nation-building.

Annexure I

Ministry/ Departments-wise progress of Central Sector Infrastructure Projects

S. No

Ministry/ Department

Project Count (number)

Revised Cost

(₹ Lakh cr.)

Cumulative Expenditure           (₹ Lakh cr.)

1

Ministry of Road Transport & Highways

1137

10.81

3.70

2

Ministry of Railways

260

8.69

5.79

3

Ministry of Coal

128

2.49

0.80

4

Ministry of Petroleum & Natural Gas

112

5.19

3.03

5

Ministry of Power

102

5.53

2.01

6

Ministry of Housing & Urban Affairs

51

3.75

2.00

7

Department of Water Resources, River Development & GR

48

2.25

1.62

8

Department of Higher Education

30

0.15

0.08

9

Ministry of Civil Aviation

26

0.23

0.11

10

Ministry of Health & Family Welfare

23

0.21

0.08

11

Ministry of Steel

19

0.23

0.10

12

Department of Telecommunications

12

2.73

0.77

13

Ministry of Labour and Employment

11

0.03

0.02

14

Department for Promotion of Industry & Internal Trade

8

0.16

0.02

15

Ministry of Ports, Shipping and Waterways

7

0.20

0.15

16

Ministry of Mines

6

0.12

0.07

17

Department of Sports

1

0.01

0.01

 

Grand Total

1981

42.78

20.36

Annexure II

Sector-wise (as per DEA’s Harmonized Master List of Infrastructure) progress of Central Sector Infrastructure Projects

S. No

HML Category

Project Count

(number)

Revised Cost      (₹ Lakh cr.)

Cumulative Expenditure      (₹ Lakh cr.)

1

Transport & Logistics

1459

23.34

11.59

2

Energy

221

11.30

5.33

3

Water & Sanitation

67

2.30

1.65

4

Communication

12

0.91

0.77

5

Social & Commercial

77

2.73

0.35

6

Others

145

2.21

0.67

 

Total

1981

42.78

20.36

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